Tuesday, November 26, 2013

Calgary resale home average prices to balloon to more than half a million dollarsReport says average to hit $517,016 in 2017By Mario ToneguzziCalgary Herald November 20, 2013

CALGARY - The average price for a resale home in Calgary will balloon to more
than half a million dollars by 2017, according to a new real estate report
released Tuesday.

The Conference Board of Canada’s Autumn Metropolitan Housing Outlook,
commissioned by Genworth Canada, said the average price for all residential
property in Calgary will grow from $431,760 this year to $517,016 in 2017.

“Calgary is facing a lack of inventory in particular areas,” said Tanya
Eklund, a realtor with RE/MAX Real Estate (Central) in Calgary.

“Buyers looking for land for redevelopment and homes for renovation have been
in very short supply and have driven up pricing due to multiple offers and low
inventory. Low interest rates, strong unemployment rates, low vacancy rates and
an overall strong economy have also added to strength in the Calgary
market.”
Ben Brunnen, an economic consultant in Calgary, said the city’s population
has grown each year for the past four years and this has helped drive
residential construction activity and home prices.

“Net-migration can have a big impact on the housing market, as an influx of
people and families into our city can often increase housing demand
unpredictably,” he said.

“In the current market, vacancy rates are low, rents are high and population
growth is strong. Combined with a good economy and favourable job prospects,
people are more willing to buy than they were a few years ago. The last time
we’ve seen comparable population growth was from 2004 to 2006, when the economy
entered a boom. While we won’t see similar house price appreciations due to
different global economics at play, Calgary house prices should stay strong for
the near future.”

“On the resale housing market front, solid sales will lead to sound price
gains this year and next. The new housing market is benefitting from strong
absorptions, which are trimming unsold stocks of new units and fostering new
construction. The medium term also looks decent.

“Ongoing economic growth will continue to produce gains in resale sales and
prices and keep housing starts above their 20-year average. Good housing
affordability, measured against local incomes, is an ongoing benefit to this
market and allows single-family starts to maintain a high market share compared
with other cities covered in this report.”
The report said summertime flooding in Calgary will limit Calgary’s GDP to
3.3 per cent growth in 2013, modest by recent standards. Output will rise a
slightly faster 3.4 per cent in 2014, spurred by government-funded rebuilding
efforts.

The job market will continue to expand, with annual growth of 2.4 per cent
this year and 2.8 per cent in 2014 cutting the unemployment rate from 4.9 per
cent this year to 4.6 per cent in 2014. Economic health should continue between
2015 and 2017, with GDP expanding roughly three per cent and employment rising
about two per cent each year, it said.

“Calgary’s strong economic fundamentals allowed its resale market to largely
shrug off the floods. Seasonally-adjusted sales and the average resale price
actually rose during June, the flood month, and have subsequently advanced,”
said the report.

“Price growth is accelerating, although increases remain far below boom-era
advances. We expect the market to remain balanced and price growth to stay
healthy in 2014 and over the following few years.”
The report’s forecast for average prices over the next few years and annual
growth rate are: 2013, $431,760, 4.7 per cent; 2014, $451,798, 4.6 per cent;
2015, $473,470, 4.8 per cent; 2016, $497,139, 5.0 per cent; and 2017, $517,016,
4.0 per cent.

Forecast for sales in the resale market for the next few years and annual
growth rate are: 2013, 28,111, 5.5 per cent; 2014, 28,793, 2.4 per cent; 2015,
29,418, 2.2 per cent; 2016, 30,027, 2.1 per cent; and 2017, 30,620, 2.0 per
cent.
“Unsurprisingly, Calgary’s resale prices are rising briskly. Year-over-year
growth has averaged a solid 4.6 per cent in the latest four quarters, including
a first quarter jump near eight per cent,” said the report. “These increases
will lift Calgary’s average price 4.7 per cent in 2013, the largest gain since
2007 and finally exceeding that year’s peak value. Similar price growth is
expected between 2014 and 2016, with a slight tapering in growth to four per
cent in 2017.

“These increases will slightly erode local housing affordability. Principle
and interest charges on Calgary’s average resale home were under 16 per cent of
average household income the last two years and are expected to remain there in
2013. But house prices will rise faster than incomes, pushing the ratio to
roughly 20 per cent by 2017. This remains decent, as affordability is better
only in Edmonton, Ottawa, and Winnipeg among the cities in this report.”

The report said buoyant housing demand is also energizing the new home
market. Absorption of new units averaged 11,200 units in the four quarters to
the second quarter of 2013, up 25 per cent from a year earlier. This included a
surge to an annualized 15,000 units in the second quarter, the most since 2008.
This strength will lift absorptions to a full-year total of 12,140 units in
2013, up 25 per cent from 2012. Another increase of nearly six per cent in
absorptions is expected for 2014, but still trailing the peak of 13,700 units
reached in 2008.

“Healthy new-unit take-up fuelled a big jump in housing starts to 13,186
units in 2012, more than double the recessionary trough in 2009, but well off
peak levels of the last decade,” it said. “We expect starts to ease a modest 2.7
per cent in 2013 as an 11 per cent dip in multiple starts slightly outweighs a
seven per cent gain in single-detached starts. For 2014, rebounding multiple
starts will fuel a five per cent increase in total starts despite relatively
unchanged single-detached construction.

“In the medium term, we expect housing starts to ease slightly, as both
single-family and multiple construction dip. By 2017, we expect 11,400 units to
get under way; this would slightly outpace the 20-year average of housing
starts. While multiple starts are expected to increase their market share, they
are forecast to make up only 52 per cent of total starts between 2013 and
2017.”

Tuesday, November 12, 2013

Despite a recent rise in the number of new listings, resale housing in the
city remains a sellers’ market, says the Calgary Real Estate Board.

“Price growth and tighter market conditions have encouraged some of the
recent rise in new listings,” says chief economist Ann-Marie Lurie of CREB in a
news release.

“This is a trend worth noting as the rise is easing some of the tightness in
the market. Despite some movement, sellers’ market conditions persist.”

New resale listings of all kinds of housing in Calgary totaled 2,522 units
in October, up nine per cent from 2,312 during the same month last year.

New listings have been down in other months this year, meaning the number of
new listings so far this year is on par with the same time last year.

From Jan. 1 to the end of October, there were 29,358 new listings compared
with 29,333 during the same period last year.

In October, there were 1,953 total sales of resale housing of all kinds, up
17.7 per cent from 1,659 sales last year.

Homes also sold faster, spending on average 40 days on market in October
compared with 46 days during the same month in 2012. The average sale price for
homes of all kinds rose last month to $458,876, up five per cent compared with
$437,030 a year earlier.

There were 1,739 new listings of single-family resale homes in Calgary in
October, up 7.6 per cent from 1,615 during the same month last year.

Meanwhile, the pace of sales continued to pick up, selling in an average of
38 days last month compared to 43 days in October 2012.

The average price of single-family homes increased 4.7 per cent to $516,244
in October, up from $492,772 last year.

Sellers are commanding an extra half per cent this month on the final sale
price compared to the same time last month, earning 97.78 per cent of the list
price.

NORTHWEST FLEXES MUSCLES
Of the 1,336 sales of MLS-listed single-family homes in the city, the
northwest quadrant of Calgary was the most popular with homebuyers in October,
says the Calgary Real Estate Board

Tuesday, November 5, 2013

If you are looking to purchase a strata unit in a building that has not yet been built, there are some things regarding the layout of your potential suite you should be aware of.

You want to be aware of backto-back bedrooms and the level of soundproofing in the walls. This is something that is expensive - if not impossible - to change later.

One suggestion for anyone looking for a new condo or townhouse or resale unit: if you can gain access to next door or above or below suites, take a radio with you and play it in the adjoining suite. You may be amazed at how music can transfer through walls.

Also, are the strata rules and regulations in place, or is the strata formed yet? Rules and regulations can limit parking, guest parking, pets, smoking and age of residents. Keep in mind your first purchase may be the biggest capital investment you will make and you do not want it to be negative.

One question I am asked many times at seminars, home shows and in phone calls is: "How do you tell the best from the worst when buying your first piece of real estate?"

I am aware of buyers using the services of home inspectors, but that does not mean they are going to find some of the most important downsides to your potential home.

If you are looking at an apartment, old or new, you may want to monitor the building over a period of 24 hours, or better yet, a week.

For example, how many shift workers live in the building, possible smokers or even rowdies who have no respect for their neighbours? If a condo building is in an area undergoing revitalization, there may be developments under consideration that could take away views that you enjoy.

A number of the points can be important in a new singlefamily homes subdivision, as well. Due to zoning bylaws, homes can be built close to one another. Keep the following items in mind when you are house hunting. Is the property a bare-land strata, at what height can you have a fence or hedge, and are storage sheds allowed? What is the maximum allowable size of sun decks, should you want to enlarge yours? Is there outdoor play equipment such as basketball hoops and trampolines, and is there a goodneighbour policy with regards to noisy heat pumps and air conditioning compressors?

Last, but not least, consider your budget - not just for mortgage payments but yearly costs to operate the home.

You would be surprised how many homebuyers do not properly prepare and end up getting into a costly scenario.

For more home-improvement information or to send Shell an email go to www.askShell. com and become a member of Shell's HouseSmart club.

Monday, November 4, 2013

Calgary’s resale housing market continued to soar in October with strong
year-over-year hikes in both sales and prices.

According to the Calgary Real Estate Board, MLS sales of 1,953 for the month
were up 17.72 per cent from a year ago as the average sale price rose five per
cent to $458,876 while the median price saw an increase of 5.96 per cent to
$409,000.

“The October Calgary real estate market kept a consistent absorption rate
between two to 2.2 months worth of inventory. This places us in a strong
sellers’ market,” said Robyn Moser, a realtor with CIR Realty in the city.

“Attributes of a sellers’ market are, competing offers, listed home selling
in the first two weeks or sooner, sellers being able to dictate the terms of the
negotiations and not having to settle for much less than realistic asking
prices. All consistent with our October experiences.”

Although new listings for the month were up 9.08 per cent to 2,522, active
listings at the end of the month were down 16.19 per cent to 3,841.

The average days on the market to sell a property dropped from 45 a year ago
to 40 in October.
Moser said housing activity in Calgary may be fuelled by a number of factors:
seasonal fall peak activities with people wanting to purchase and move into
homes before winter sets in; investor speculators coming into the market due to
the flood impact in June; corporations reorganizing and centralizing back to
Calgary and Edmonton; and rental rates increasing.

“Buyers had to react to this market by acting quickly when homes came
available for sale, being prepared to pay asking price or above and ensuring
they were prequalified and prepared for condition days of seven days or less in
order to get their offers accepted,” said Moser.

Sales and prices were up across all housing categories in the city during the
month.

In the single-family home market, there were 1,336 MLS sales, up 14.29 per
cent from last year with the average sale price increasing by 4.76 per cent to
$516,244 and the median price rising by 5.12 per cent to $452,000.

The condo apartment category saw sales rise by 24.35 per cent to 337. The
average sale price was up 6.76 per cent to $309,415 and the median price rose by
8.80 per cent to $272,000.

In the condo townhouse market, sales of 280 were up 27.85 per cent with the
average price rising by 13.49 per cent to $365,037 and the median price up by
8.29 per cent to $319,450.

The towns surrounding Calgary saw sales jump by 22.04 per cent to 382 with
the average price increasing by 10.54 per cent to $380,350 and the median price
up 8.11 per cent to $360,000.

“Price growth and tighter market conditions have encouraged some of the
recent rise in new listings,” said Ann-Marie Lurie, chief economist at the real
estate board. “This is a trend worth noting as the rise is easing some of the
tightness in the market. Despite some movement, sellers’ market conditions
persist.”

Employment growth, strong net migration, lack of rental product and low
mortgage rates have contributed to the rise in housing demand over the past two
years, she said.

Wednesday, October 16, 2013

CALGARY — Led by gains in Calgary, Edmonton, Greater Vancouver and Greater Toronto, Canada’s housing market experienced soaring MLS sales in September compared with a year ago.

The Canadian Real Estate Association said Tuesday that national sales of 38,147 during the month were up 18.2 per cent from September 2012.

That is roughly on par with the 10-year average in September. The 18.2 per cent increase compared to year-ago levels reflects weakened activity at that time, said CREA.

In Calgary, sales rose by 20.5 per cent to 2,475 transactions.

“Currently it is still a strong sellers’ market wherein we are seeing properties in prime locations come on the market and within a day being sold unconditionally for above listed price when priced accordingly,” said Grace Yan, a realtor with RE/MAX Real Estate (Central) in Calgary.

“We are still experiencing vast amounts of relocations from all parts of the world as Calgary’s oil and gas economy remains strong. We are expecting the rest of the year to remain a strong, healthy resale market due to the limitation of suburban developments and the long periods of time to obtain building permits for new builds along with limited public transportation in suburban areas.”

In September, sales year-over-year sales increases were 64.3 per cent in Vancouver (2,524 sales), 26.1 per cent in Toronto (7,411), and 24.8 per cent in Edmonton (1,712).

“Year-over-year increases in the sales over the past couple of months highlights how activity softened across much of the country following the introduction of tighter mortgage rules last summer,” said Gregory Klump, CREA’s chief economist.

“While the momentum for sales activity began improving a few months ago, it may be losing steam after having only just climbed back in line with an average of the past 10 years. Even so, one can see large year-on-year changes when comparing activity to a month like September 2012, when sales dropped to the lowest level for that month in more than a decade.”

CREA also said Calgary had the highest year-over-year increase in the MLS Home Price Index at 7.28 per cent. The aggregate for the 11 centres surveyed across Canada was 3.13 per cent. The index looks at benchmark properties in those centres.

Calgary average MLS sale price rose just slightly under the national average in September. It was up 8.2 per cent year-over-year to $435,934. Across Canada, the national average sale price was up 8.8 per cent to $385,906.

CREA said MLS sales in Alberta increased by 20.8 per cent in September to 5,694 while the average sale price was up 7.4 per cent to $381,308.

Diana Petramala, economist with TD Economics, said no two major markets in the country are the same.

“Momentum may prove more lasting in markets with fewer excesses, like Calgary and Edmonton where homes appear fairly valued and sales are being supported by decent labour markets and population growth,” she said.

Robert Kavcic, senior economist with BMO Capital Markets, said sellers in Calgary still have a slight upper hand.

CALGARY — The pace of year-over-year sales growth in the resale condo market is much higher than the single-family home market this year in Calgary.

And new condo sales are also moving in an upward trend towards the strongest levels since 2006.

“Calgary’s condominium market remains resilient and in high demand with new construction being well supported demographically, exhibiting steady sales throughout the inner city and the downtown core,” said Kaitlyn Gottlieb, a realtor with Century 21 Bamber Realty Ltd. in Calgary.

“Calgary’s luxury condominium market remains immensely sought after. As Calgarians’ incomes continue to rise and our business sector attracts relocations, high-end buyers are taking advantage of the luxury condos that Calgary has to offer, boasting high-end finishes and their close proximity to the downtown core.”

According to the Calgary Real Estate Board, year-to-date until October 10, MLS sales in the condo apartment category in the city were 3,253, up 14.58 per cent from the same period a year ago and the average sale price has jumped by 6.14 per cent to $298,050. In the condo townhouse category, sales of 2,600 are up 22.18 per cent from last year and the average sale price has risen by 6.60 per cent to $338,809.

The single-family home market in the city has seen sales rise by 7.36 per cent to 13,482 with the average price moving up by 8.18 per cent to $517,730.

“While the recent floods have undoubtedly impacted all sectors of Calgary’s housing market inclusive of the condominium market, as demonstrated by the increased demand for affordable housing, the overall market remains stable,” said Gottlieb.

“Steady migration, employment and population growth are major contributors as we move into the fourth quarter of the year. The relative affordability of our city’s housing market remains one of the best in Canada and we can expect to see Calgary’s condominium market continue to rise at a moderate, sustainable pace.”

A report by Altus Group says new condo sales in Calgary are at the strongest levels since 2006.

It said the new multi-family condo market has seen impressive sales in the first half of 2013 with almost 3,000 sales to start the year, an increase of 400 sales compared with the same period in 2012.

The sales pace this year is 16 per cent ahead of 2012 at mid-year and 74 per cent better than in 2011 for the same period.

“New suburban apartment and townhouse projects entering the market are primarily responsible for the strong sales results, with mid-year sales up sharply in the north and south quadrants of the city following the launch of several new projects during the Spring,” said the report. “In the downtown region, sales are generally consistent with last year’s pace, although sales activity has been more focused at projects with superior locations and faster possession timing.”

The report said the strong sales so far this year are expected to push the annual sales volume to about 5,000 units, potentially making 2013 the second strongest sales year in the past decade.

“Developers will begin to see cost pressures from higher land prices, construction cost escalations and a declining land supply in the suburban regions, while consumer activity could be impacted by the recent price growth, higher interest rates and more restrictive lending practices,” said the report.

“While home ownership will remain the goal for most consumers, the higher prices and interest rates may force some consumers to delay their purchase decision while they save for a larger down payment.”

Thursday, October 10, 2013

CALGARY — A continued lack of inventory is fueling house price growth in Calgary.

The Royal LePage House Price Survey, released Thursday, shows strong year-over-year price increase in all housing types in the city as competition for homes is being driven by a strong economy and the influx of professionals.

The survey said average home prices were particularly buoyant in the third quarter with detached bungalows increasing 7.2 per cent year-over-year to $465,411, standard condominiums increasing 5.6 per cent to $263,087 and standard two-storey homes increasing 3.4 per cent to $446,411.

“A sustained period of low housing inventory coupled with a healthy economy and an influx of corporate sector workers has pushed prices up further,” said Ted Zaharko, broker/owner, Royal LePage Foothills. “For some time now too many homebuyers have been chasing too few properties.”

He said inventory is low in all categories, but particularly in detached bungalows, which are much rarer in Calgary compared to cities like Edmonton.

“Buyers are acting very quickly when homes are put up for sale, which is leading to frequent multiple offer situations on all housing types,” said Zaharko. “The aggressiveness of buyers is making it very difficult for first-time buyers to break into the market.”

He said third quarter activity was the most robust the Calgary market has seen in years, with buyers eagerly making offers on the limited inventory. In addition to normal demand, there was some extra activity coming from flood victims who were looking to move to locations on higher ground.

Nationally, the average price of a home in Canada increased between 1.2 per cent and 4.1 per cent in the third quarter of 2013.

The survey showed a year-over-year average price increase of 3.7 per cent to $418,686 for standard two-storey homes, while detached bungalows rose 4.1 per cent to $381,811. During the same period, the average price for standard condominiums saw a more moderate increase, rising 1.2 per cent to $246,530. Sales volumes surged in a number of regions, as Canadians re-entered the housing market after sitting on the sidelines for more than a year — marking the end of the most significant housing market correction since the 2008-2009 global recession, said Royal LePage.

Early signs in October indicate Calgary’s housing market is continuing its trend of increased sales and prices.

According to the Calgary Real Estate Board, month-to-date up to Wednesday, there have been 624 MLS sales in the city, up 37.14 per cent from the same period last year. The average sale price has increased by 7.82 per cent to $460,509 while the median price is up 6.96 per cent to $415,000.

New listings of 850 have risen by 10.10 per cent but active listings are down by 22.73 per cent to 3,927. Average days on the market to sell have also dropped by 6.52 per cent to 43 days.

“Prices are continuing to climb because of supply and demand. We have significant demand and we have across the board limited supply regardless of the price ranges. There is not a substantial variety to choose from and in some cases, such as in the case of bungalows, there has been a short supply in Calgary and new listings often get multiple offers,” said Rachelle Starnes, a realtor with Royal LePage Foothills in Calgary.

“In support of this statement, we are seeing in the Royal LePage offices more quick sales and multiple offers in the last quarter than previous quarters. The buyers are anxious and know that once a new listing comes onto the market, they need to act quickly. Having said that, there are still good listings sitting on the market that are a puzzle as to why they are not getting the proper activity. We just listed a property in the community of Bel Aire this week that will sell for a minimum of 10 per cent more than before the flooding occurred and may even see multiple offers at the higher price. Prices in the higher ground areas are escalating with the higher demand in the central areas of the City.”

City’s Beltline expanding with new development

Silverbirch Hotels and Resorts have announced their plans to build a 360-room Residence Inn by Marriott on the former site of the Alberta Boot Company, at the corner of 10 Ave. and 5 St. S.W.

The development is expected to be one of the largest Residence Inns in the world.

The hotel will feature:

full kitchens

separate living and sleeping areas

in-hotel business services

24/7 self-serve food and beverage pantry

health and fitness options

comfortable public areas

terrace lounge

roof deck for relaxation and socializing

“Calgary has quickly been moving towards being Canada’s most important business centre,” said Steve Giblin, President and CEO of SilverBirch Hotels & Resorts in a release. “Residence Inn by Marriott brings the best possible long-stay experience for business travellers to Calgary, by connecting them to their home and office and helping guests balance work and relaxation while traveling.”

In addition to a hotel, the site will also feature a 10,000 square foot conference centre which will offer a number of all-inclusive meeting packages.

The company says that the facilities will be distraction-free, ergonomically designed, and will offer high-definition video conferencing.

Construction is expected to begin in 2014 and the hotel is scheduled to open in 2016.

Wednesday, October 9, 2013

Sales of single-family resale homes climbed 20 per cent in September compared to sales a year earlier, with tight market conditions creating higher prices, says the Calgary Real Estate Board.

“The impact of the floods likely boosted sales throughout July and August, and it appears as though some of that additional demand is starting to ease,” says chief economist Ann-Marie Lurie of CREB.

“Nonetheless, sales growth remains strong, in part because net migration has been stronger than anticipated and rental product is in short supply.”

Net migration describes the inflow of people to the city minus the outflow.

During September, 1,354 homes changed hands, up 20 per cent from 1,126 during the same time in 2012, says CREB.

The benchmark price of single-family homes in Calgary was $463,700 in September, a seven per cent upswing from $432,900 during the same month last year. The benchmark price is that of a typical home based on a formula that uses various factors to ensure accurate comparisons.

“While prices show strong year-over-year gains, if the level of new listings continues to improve relative to sales activity, prices should level off for the remainder of the year,” says Lurie.

Homebuyers have seen about the same selection this year compared to a year ago. There were 18,949 new listings between Jan. 1 and the end of September, a slight decline of 0.2 per cent from 18,881 during the same span in 2012.

However, the market saw a turnaround for new listings in September.

Last month, 1,975 single-family resale homes were added to the market, five per cent more than the 1,887 during this time last year.

From Jan. 1 to the end of September, 13,006 single-family homes were sold on Calgary’s resale market, a seven per cent improvement over the 12,186 transactions during the same period last year.

The quadrant with the most single-family house sales in the city during September was the northwest.

The board’s Zone A, which roughly consists of the northwest, finished the month with 467 transactions.

The next busiest quadrant was the board’s Zone C with 357 homes changing hands during September. This zone roughly consists of southwest Calgary.

At the same time, the board’s Zone D had 299 deals, while 231 homes sold in the board’s Zone B. Zone D roughly covers the southeast quadrant and Zone B is mostly the northeast side.

NORTHWEST LEADS REST

The two communities that saw the highest single-family home sales in the city in September were both in northwest Calgary.

Tuscany led the city in sales with 34 deals at an average sale price of $535,688, says the Calgary Real Estate Board. Panorama Hills had the second highest sales with 31 transactions at an average price of $487,477.

When buying a home, most people probably first think of the financial responsibility. Don’t let yourself forget, however, about the time and labor that home ownership also requires. Just like regular oil changes for your car keep your engine happy and healthy, keeping up with regular home maintenance tasks will keep you from future headaches and wasted money.

It can be intimidating to think about these various tasks, especially if you’re a new homeowner. It’s a long list — there’s no denying that. The good news is that you can do the majority of it on your own without much experience. Google is your best friend, and if you really get stuck, call up your local handyman to help you out.

In order to maximize your efficiency and actually get all of these tasks done, you might want to create a home maintenance calendar for yourself. Whether online or on paper, you can jot down small, regular tasks for each weekend and not be too overwhelmed. We’ve listed tasks that need to be done monthly, quarterly, and biannually. We’ve also given you a list of tasks to be completed seasonally. Not every expert agrees as to which task needs to be done in which season, so this isn’t a black and white list, necessarily. Do what works for you and your schedule, and as long as all these things get accomplished, your home will be happy for years and years to come.

Monthly

Inspect, and possibly change out HVAC filters. Many experts will say to change the filters monthly, but that’s not always necessary. For smaller families without pets or allergies, you’ll likely be okay changing the filters every 2-3 months. If the filter is dirty, change it out, otherwise inspect it again next month. I’ve also been told by handymen to go with cheaper filters and replace them more often versus going with the expensive filters.Clean kitchen sink disposal. There are a bunch of ways to do this, but the handiest and best all-around solution seems to be vinegar ice cubes. Put some vinegar in an ice tray and let it freeze, then run the ice cubes through the disposal. It freshens it, but as a bonus, ice sharpens the blades. You’re welcome.Clean range hood filters. If you’ve never thought of doing this, you’re in for a real “treat” when you get that filter off the hood to clean it for the first time. The Family Handyman suggests simply using a degreaser from an auto parts store mixed with hot water. Let the filter sit for a few minutes, rinse it off, and you’re good to go.Inspect your fire extinguisher(s). We’ll assume you have and know how to use an extinguisher. This inspection doesn’t require much: ensure it has easy access (not being blocked by a garbage can or anything else), that the gauge shows adequate pressure, and that it has no visible signs of wear and tear.Quarterly

Test smoke/carbon dioxide detectors. Another simple task; your detectors should have a “test” button. If the alarm sounds, you’re good to go. If not, replace batteries immediately and test again. If it still doesn’t sound, it’s possible there’s simply corrosion on the battery terminal, and it won’t detect new batteries. Clean it and try again. If it still doesn’t work, you’ll likely need a new detector.Test garage door auto-reverse feature. In 1993, federal law required all garage doors to have this feature after multiple child deaths. Test every month by placing a 2×4 on the ground where the door would close. It should reverse after a second or so when the door hits the wood. Also test the photo-electric sensors if you have them by placing something in front of them (not your body). If the door doesn’t immediately go back up, you have a problem.Run water and flush toilets in unused spaces. This mostly applies to guest bathrooms, or any other sinks/water sources you don’t use on a regular basis. The idea is to prevent grime or any other kind of build up. Regularly running a little bit of water through will prevent this.Check water softener, add salt if needed. You shouldn’t need to add salt every month, but better to check anyway, as it only takes about 5 seconds.Semi-annually

Test your water heater’s pressure relief valve. This will prevent mineral and corrosion buildup, which safeguards against leaks. It will also help your heater run more efficiently.Give your house a deep clean. Take one Saturday every six months with your whole family, and give the whole house a proper deep clean. Appliances, windows, dusting every nook and cranny (including the basement), etc. Keeping things clean and not letting dirt/grime/dust build up over years and years will help keep your home in tip-top shape.Replace batteries in smoke/carbon dioxide detectors. I’d never heard this before, actually. I just assumed you changed it out when it started giving you the low battery beeping noise. This tip was in everything we researched, however. With something as important as this, you can’t be too careful, and batteries won’t break your bank. Change ‘em out every six months.Vacuum your refrigerator coils. I actually learned this tip from a refrigerator repairman, and our research confirmed it. The fridge can use up to 15 percent of your home’s total power, so you want it running as efficiently as possible. Over time, the coils get dirty and your fridge requires more juice. You can save up to $100 a year by doing this, and it’s not at all a difficult task.
Annually (Organized by Season)

Spring

Spring is a big month for home maintenance. They don’t call it “Spring Cleaning” for nothing. Especially focus on the exterior of your home as it’s just gone through winter and is preparing for summer heat, and in some parts of the country, brutal humidity.

Check the exterior drainage. Will rain water flow away from the house? Puddles should not stand around your home for more than 24 hours. If water stays, or moves toward your foundation, you have a few options. First, check your gutters. It could be a bad spout or a loose connection there; they may also just need cleaning. Second, you can grade the area around your home yourself with some dirt; this has worked just fine for me in the past. Third, for pavement, you can have professionals come out and raise it so it drains away from your home.Clean out gutters. They’ve likely accumulated leaves from the fall and grime/sediment from the winter snows and/or rains.
Inspect the exterior of your home. Is any paint chipping? Is any siding damaged from winter? Are there any holes in your brick? Take a close look all around your house, and make any repairs as needed. Also be sure to check the foundation for any cracks. A good silicone/caulk can fix a lot of your problems.Get your air conditioning system ready for summer; consider having it serviced. This one really depends on your individual home, and even which part of the country you live in. Some places mostly just use window air units, while other places (like my home in Colorado) use a big swamp cooler up on the roof — these are fairly basic machines where a quick internet search can help you fix any issues that come up. Also refer to the user guides for specific regular maintenance. Central air is obviously a more complex system. Getting it serviced by a professional should be around $100 or less, and it will save money and headaches down the road.Repair/replace damaged window screens. You don’t want bugs making their way in because you missed a hole in a window screen. And no, duct tape doesn’t count. It can be a quick fix, but don’t leave it for long. It just looks bad.Clear dead plants/shrubs from the house. This could double as a gardening tip, but if you didn’t trim trees or shrubs in the fall, do so now. Plants can weasel their way into cracks and holes on the exterior of your home, causing damage and shortened longevity. Nip that in the bud before it’s an issue. If you have decorative vines on the exterior, pay close attention.Check trees for interference with electric lines. Have professionally trimmed if necessary.Inspect roofing for damage, leaks, etc. Repair as needed; you may need a professional.Summer

Summer is a great time to focus on the exterior of your home, as well as your lawn and garden. It’s also perfect for having that garage door open and utilizing the prolonged daylight to work on any manly projects you’ve had on the backburner.

Check grout in bathrooms, kitchen, etc.; repair as needed. This will prolong the life of your tiled surfaces and just looks better.Inspect plumbing for leaks, clean aerators on faucets. Go around to all your faucets and toilets and check for any small leaks. If you have poor water pressure out of a faucet, the aerator is the likely culprit and it’s an extremely easy fix.Take care of any insect problems you may have. Summer is their playground. You probably won’t have to look too hard to notice any insect problems. Ants, spiders, moths, etc. are all common, and fairly easy to take care of. Keep cobwebs clear, have ant poison handy, make sure all doors are tightly closed, etc. If termites are common in your area, this handy article gives some tips on how you can do some inspection and prevention yourself.Clean and repair deck/patio as needed. It generally just needs a good washing. A deck may also need re-staining. Also check for any loose boards or posts and repair as needed.
Clean out window wells of debris. If you have a basement, you also have window wells. All kinds of things can get down in there from leaves, to trash, to animals.Check and clean dryer vent, other exhaust vents to exterior of home. While the dryer is running, check that the exhaust is coming out. It should smell nicely of fresh laundry. If there isn’t much exhaust, check for blockages as well as you can. You may need a professional. Also vacuum the lint from the hose at the dryer.Clean garage. Cleaning the garage should be a summer ritual for every man. Keeping it clean and tidy will extend its life, and it often gets neglected of regular care. With all the extra dust it gets from the manly projects you’re working on, you should actually clean it even more. Once a year, however, give a thorough going-through.Fall

Fall is an in-between season where you’re finishing up your summer home maintenance tasks as well as getting your home ready for winter. Cold, snow, and rain can do a number to a home, so you don’t want to ignore winter preparation.

Flush hot water heater and remove sediment. This prolongs the life of the heater and helps with efficiency as well.Winterize air conditioning systems. Remove and store window units. If you have central air, cover the outside unit with a tarp or plastic sheeting and secure with bungee cords.Get heating system ready for winter. Check for any leaks in windows or doors; these can cost an arm and a leg. Make sure heating vents are open and not blocked by furniture. Get furnace serviced/inspected at least every other year, preferably annually. As with the AC, this shouldn’t be a huge expense. Don’t forget about fireplaces if you have them.Turn off and flush outdoor water faucets. Also flush hoses and store them. Winterize sprinkler systems as well, if you have one.Get chimney cleaned, if you have one. Some folks say to do this in the spring, some say fall. Either way, just make sure it’s done once per year.Test sump pump. You don’t want to wait until you need your sump pump to find out it’s not working.Check driveway/pavement for cracks. Make sure to have re-sealed before winter; water can freeze and expand in the cracks, causing more damage.Buy winter gear. Have sidewalk salt, good shovels, etc. ready for winter. You never know when that first snow will come!Winter

Winter is the time to go around the interior of your home and check for any little things you may have overlooked, or perhaps noticed and said, “I’ll get to that later.” Winter is your later. If you have any interior honey-do projects, whether it be painting, building shelves, etc., now is a great time to tackle those as well.

Regularly check for ice dams and icicles. De-icing cables that sit at the front of the roof work well. Don’t let icicles grow, as much as the kids may want you to. They’re not only a danger to people standing beneath them, but they’re incredibly heavy and can cause damage to your home. They also can cause water damage to your foundation when they melt.Test your electricity to the extent that you can. Always, always be extra careful when working with electricity. You can do a couple things on your own, though. Check that all outlets work; if they don’t, you can re-wire them on your own. Also, test your GFCI outlets. There are wildly varying opinions on how often to test this. Some say monthly, others say annually.Tighten any handles, knobs, racks, etc. Go through the house and inspect anything that could have a loose screw.Check all locks and deadbolts on your doors and windows. If anything doesn’t work right, replace.Check caulking around showers and bathtubs; repair as needed.Remove showerheads and clean sediment. This prolongs its life and helps with water pressure as well.Deep clean and inspect the basement. Basements are notoriously overlooked, especially if they’re primarily just storage areas. Dust ‘em up, clean any windows, make sure there isn’t mold anywhere, etc. Give your basement a good inspection at least once a year.

While this list is certainly extensive, it’s not a complete list of all the things you can do for your home. What do you do to keep your home in tip-top shape? Do you have any hacks for doing these tasks as efficiently and effectively as possible?

Tuesday, October 1, 2013

A newly created tribunal system will help condominium owners in Alberta who
are embroiled in disputes avoid costly and time-consuming legal battles, the
Minister of Service Alberta announced on Monday.

Manmeet Bhullar said the new dispute resolution process, expected to be
operational by early 2014, will help protect the hundreds of thousands of
condominium owners who live in Alberta.

“Everyday, hard-working Albertans who live in a condominium can’t afford $200
or $300 or $500 an hour to pay a lawyer,” Bhullar said Monday, standing near the
Bow River, across from several condominium towers.

Bhullar said it’s common for condo owners to disagree with other condo owners
and condo boards on issues ranging from parking spots to fees. “Owners can have
disputes with one another over things like noise complaints and even odours
coming from another unit,” he said.

Bhullar said the new system will allow condo owners to pay a “reasonable fee”
to have their matter heard before an adjudicator.

Stephen Cassady, the president of the Canadian Condominium Institute — South
Alberta Chapter, welcomed the government’s announcement of a new resolution
model.

“It’s an entire waste of resources and time of people who could be better
spending it doing something else,” he said of the current system.

Cassady said the industry has changed significantly in the 13 years since the
government last updated its condominium legislation in 2000.

“If we can get (disputes) out of the court systems then we will do a
phenomenal job of improving everybody’s life,” he said.

The new changes are the first of many to come to the province’s Condominium
Property Act, following public consultation with Albertans, Bhullar said.

Instead of waiting for changes to the Act to be tabled in the Legislature in
the spring, Bhullar said he is tasking a committee of people, led by Sherwood
Park MLA Cathy Olesen, to develop the new dispute resolution model immediately.
“Developing a more affordable and speedy way to resolve differences will help
protect condominium owners,” Bhullar said.

Bhullar said condominiums accounted for nearly 20 per cent of home sales in
Alberta in 2012.

Monday, September 30, 2013

It’s every homebuyer’s dilemma — to buy an older home in an established neighbourhood, or a new home in a new community.

With myriad options to choose from, narrowing down the choices can be overwhelming.

“I always filter everything through an investment lens,” says Todd Talbot, real estate guru and co-host of Love It or List It Vancouver, a TV show on the W Network. “But I also believe that if it is done well, you can have your cake and eat it, too.”

There are a couple of different ways to look at it, he says.

“The new build has a certain mystique to it — a certain flair,” says Talbot, recalling that the first home that he ever purchased, a condo, was brand new. “I fell in love with the idea.”

Certainly, a new home has a visual and kinesthetic attraction. You can smell the newness, see the perfection of the finishes and know that most likely, you won’t have to do a thing to it for quite a while.

“The big trap is that you see the show suite and you fall in love with the idea of it,” says Talbot. His advice is to be clear about what the base price includes — from landscaping and the basement development to the appliance package.

Clarity surrounding timelines is also of tantamount importance when buying. Will you be selling in five years? Ten years?

You don’t want to detract from the fun of buying a house, but it is necessary to be realistic because, eventually, you are going to sell.

That said, Talbot suggests buyers understand the future development of a new community and the inherent future change in variables like traffic, noise, landscaping and neighbours. “Chances are in five to 10 years, when you go to sell your home, it will be a much different environment.”

Ideally, the goal is to find a neighbourhood that is on the upswing, with the anticipation of capital appreciation.

“I am willing to buy in a neighbourhood that is not necessarily the absolute best, if it has some room to grow. I like neighbourhoods that are dynamic.”

As the saying goes, real estate is all about location, location and location, says Ross Pavl, a Calgary-based realtor with Re/Max.

“You definitely need to consider the area,” he says. “It has to always be in demand. You want to be close to amenities, to transportation, a university and a major work area. All of those factors will be a huge influence when you go to sell.”

When a city surpasses the population threshold of 1 million, the market shifts, he says. “Inner-city real estate will appreciate almost twice as fast as the suburbs,” says Pavl.

The demand is all about lifestyle — being close to the restaurants and theatres, not to mention the walkability factor. But that is also tempered with the fact that Calgary buyers are attracted to the appeal of the new.

“As soon as something is 10 years old, everyone in Calgary considers it old,” he says. “They would rather just buy a piece of land and build something new.”

Of course, price is also a factor. Buying a smaller home closer in and boosting its market appeal through renovations are certainly coveted options, but for many, the higher price takes them farther out into new communities in the suburbs, where prices are more affordable.

When it comes right down to it, real estate investments are all about controlling the variables — the location, amenities and visceral experience of the home, says Talbot. “Not to say that one home or location is better than the other, it’s just all about understanding what you are buying.”

Thursday, September 26, 2013

There are many factors to consider when choosing a new condo. Competing for attention are details concerning location, site orientation, views, size, potential for resale and, often most important, cost. There is, however, another set of factors that buyers may not fully consider. These are the interior design features that come with the condo. Specifically, I want to discuss condo palettes - the hues of walls, fixtures, cabinetry and window treatments.

Let's assume you are not one of those lucky individuals who is starting with a bare-bones unit for which you will choose all spatial arrangements, appliances and finishes. In reality, most new buyers cannot boast of extensive experience in condo design and an absence of budget restrictions. Rather, they rely on pre-designed packages that include specific colour palettes and decor choices.

One way developers attract buyers is through interior design. They offer a variety of samples of flooring, cabinetry and counter-tops. Builders are always thinking forward in the rapid-paced environment of condo development, so predicting potential colour and texture trends when a condo is ready to be sold can help differentiate a builder's offerings from those of the competition.

Not only that, but as condo showrooms come out months - sometimes years - before construction, colour trends are often chosen in advance. For instance, 2014's must-have features and colours have already been established.

Builders usually enlist the expertise of the best interior designers in the country to develop their interior design palettes. Since many of these designers' fees are beyond what most individuals are willing to pay, a buyer can benefit indirectly from a designer's skills by purchasing a condo whose palette is a result of careful consideration.

In general, builders try to supply prospective purchasers with the hottest and most desirable designs, thereby outdoing their competition.

Model suites will give you your first taste of a condo's palette offerings. On show are a spectrum of colours, textures and design features that can be selected at no extra cost. The more you relate to the basic palettes offered, the more you get your money's worth.

If you have trouble picturing yourself living among this decor, it may be time to consider another development with a different designer. This will prevent you from struggling to accommodate someone else's taste. To complicate matters, the builder will offer a wide selection of extra-cost upgrades - flooring, appliances, built-ins, counter-tops and backsplashes - the list goes on and on. If you don't see an upgrade you want, just ask, as most requests can be accommodated.

If you have a clear sense of what works for you, the selection process can be relatively straightforward. Remember that a reputed designer has been working in the background on your behalf, and now the builder will supply an experienced consultant to help with the decision-making.

Despite this, you may also want to enlist the services of your own designer to help organize the palette and options to create your own unique space. If you go this route, make sure to pick a designer with similar tastes to your own. This is best done by viewing examples of their work, something most designers will be happy to arrange.

You may be wondering what the current trends are.

There is movement away from the beige-on-beige theme to more sophisticated taupes, greys, pewters, creams, almonds and cappuccinos. These rich tones add variety and interest to spaces while maintaining the virtue of not being statements in and of themselves.

Textures are evolving rapidly with many designers forgoing classic granite and tile themes in favour of composites and polished concrete set off by smooth or sandblasted glass or stainless-steel backsplashes.

It's important not to forget that seasonal views may have a strong influence on your colour palette. For instance, you may want to opt out of an all-white palette, as the decor will suffer when the city is blanketed in snow. Whatever you choose, try not to go too bold with your palette, as you may get sick of it or suffer during resale.

BACK TO CHRISTINA HAGERTY + CO.

About Me

SPECIALIZING IN CONTEMPORARY URBAN LIVING...
As a Calgarian for over 30 years and living in the Inner-City, I can relate to the needs of my clients and focus primarily in what I know... Inner-City Homes, Condos and Lofts! Due to the demographics of my specialty, my client base consists mainly of young professionals where time is in short supply. Therefore, after listening to my client's needs, providing precise, accurate information in an expedient manner is of utmost importance.
Incorporating a friendly and professional approach, I assist them in making educated Real Estate decisions in relocation, purchasing their first home, or investment property.I look forward to the opportunity of answering any questions you may have, please feel free to call me!
Office: (403) 264-8086
Fax: (403) 264-8087
E-mail: christina@petrotown.com